I recently came across a token sale worth keeping an eye on: Slop Cash ($SLOP)

A new project involving the founder of ai16z / elizaOS, and the first token sale on @umia_finance

Here are a few things I think are worth keeping an eye on:

• 100 million tokens in total, with 45 million up for auction—45% of the total supply

• Starting FDV of approximately $890,000, with a maximum of around $2.2 million

• All tokens unlock at TGE after the auction ends; the exact circulating supply will depend on the official arrangements

• Minimum fundraising target of $400,000; if it isn’t met, all funds will be refunded

• The project aims to incentivize open-source contributors and address the challenges of maintaining open-source projects in the age of AI-assisted coding

One more detail worth noting: team tokens aren’t simply released all at once. Some are subject to a lock-up period, while others are tied to the token’s price performance and unlock in stages. 10% is locked for 12 months, then gradually released through year 4. Another 10% is tied to the token’s price and unlocks in batches when it reaches 2x, 5x, 10x, 20x, and 50x.

The three factors I’m most focused on are the founders’ backgrounds, the launch platform, and the initial valuation.

A high-profile founder and Umia’s first project should attract some attention. The starting valuation isn’t too high either, so it’s worth looking into early.

That said, a low valuation doesn’t guarantee a price increase. Whether you can make a profit from participating in the launch depends on actual demand, the final sale price, and subsequent liquidity.

Specific dates and times: pre-bid on November 5 at 17:00 UTC; public auction on November 7; auction ends on November 10 (on Robinhood Chain, using USDG).

🔗: Link in the original post

You can start looking into it early, guys. The alpha is worth watching, but keep your position size in check—don’t blindly go all in just because it’s a high-profile project 🫡 DYOR!